Gene Finance Monthly Report — February 2021
- Released new interface with data analytics on liquidity, volume, farm yields, transactions, etc
- Released new algorithmic stablecoin Regene on Heco and within 4 hours of the Token Generation Event for REC, the Total Value Locked amounted to over $ 4 million USD
- Partnered with Lavaswap to create innovative products for REC holders, REC-USDT is the #1 Token Pair on Lavaswap
The month of February has been incredible, to say the least for Gene Finance and our community. With a focus on usability and data transparency, our team released the new Gene Finance interface at the beginning of the month. We received positive feedback from our community and hope to continue to improve the DeFi experience for everyone.
Algorithmic Stablecoin: Regene
On February 17th, 2021, we also launched our algorithmic stablecoin Regene on Huobi Eco Chain. Within 4 hours of the Regene launch, we had over 4 Million USD worth of Gene locked (87+ million GENE) in the pool to receive Regene Cash (REC).
Regene is an innovative algorithmic stablecoin project that is an integral part of Gene Finance. This cross-chain DeFi ecosystem provides advanced, innovative ways to deploy digital assets and optimize digital asset portfolios.
Like other algorithmic stablecoin projects, Regene has adopted a three-token system:
- Regene Cash (REC): A token designed to become a medium of exchange for the Gene Finance ecosystem.
- Regene Share (RES): A token that gives its holders the right to receive additional REC during expansionary phases.
- Regene Bond (REB): A token designed to incentivize the burning of REC during deflationary phases.
Learn more about Regene here.
After the successful launch of Regene, we partnered with Lava Swap to introduce more innovative products to increase the utility of the stablecoin for GENE and REC holders within the Heco ecosystem. Our community took advantage of these reward programs and we saw the REC token rank soar to the top on Lava Swap in terms of liquidity and volume.
Marketing and Operations
- In February, we had our first Gene Finance AMA with our community on Discord. In case you missed it, check out the recap here.
- Announced the partnership with Huobi Eco Chain and Lava Swap to successfully release our algorithmic stablecoin Regene
- Released official tutorials and addresses to help the community get involved in Regene, you can find them here.
The Path Forward
Recently, we officially announced our migration to Metaverse ETP. As a result, will be temporarily pausing the mining of GENE tokens on Gene Finance. Gene mining will pause on March 6th, 2021.
The New Metaverse ETP brings the first Hybrid Consensus Algorithm to Substrate, establishing a resilient network without sacrificing its scalability potential in the process. The improved algorithm is optimized from three dimensions: throughput, latency, and scalability. The Metaverse Virtual Machine (MVM) provides full compatibility with EVM and can be deployed on ETP chain from Remix, Truffle, or compatible technologies. The MVM has built-in integration with the new ETP coin, ERC-20 tokens, and a wide range of smart contracts with much lower fees.
Learn more: https://mvs.org/
More details of the migration will be announced soon! As we get ready for the integration, we will introduce new reward programs for the Gene Finance community! Stay tuned.